Chairman & Chief Executive Officer, Fulgent Genetics
Search every verified Ming Hsieh interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Ming Hsieh, chairman and chief executive officer of Fulgent Genetics, spoke at a December 2024 event at the University of Southern California about his career and the company's growth. He said that when the COVID-19 pandemic began, Fulgent quickly shifted its capabilities to COVID-19 testing and became one of the top three companies in that market, generating more than $1.5 billion in cash from operations that he stated would be used to support cancer research. Hsieh also discussed his earlier work in biometrics, noting that a fingerprint identification system his company developed received a sole-source contract valued at about $500 million from the Department of Homeland Security. In a 2021 speech at the National Committee on U.S.-China Relations gala, Hsieh said he was a beneficiary of stable and collaborative U.S.-China relations, which he stated allowed him to change from a field farmer to a member of the National Academy of Engineering. He has also spoken about his philanthropic efforts, saying he has donated more than $100 million to support research, educational, and medical institutions. During a 2021 earnings call, Hsieh said the company expected revenue to nearly double in 2021 compared to the record revenue achieved in 2020.
“In today's political events I think we have to figure out how to live with China together — over the past 40 years events like Nixon and Kissinger's trips changed many people's lives and we have all benefited.”
“Los Angeles County Department of Social Services issued an RFP for fingerprint application and six months after deployment we landed a $16 million contract — within six months they recovered the full cost of the four‑year contract because the ID system deterred repeat fraudulent collections.”
“We developed a programmable machine accelerator — using brute‑force, super‑parallel hardware dedicated to fingerprint processing — which brought fingerprint identification to about 99.19% accuracy and set us apart from competitors.”
“The Department of Homeland Security found it pivotal to build an identification search system to screen visitors and deter terrorists — it became one of the world's largest biometric ID systems and we received a sole‑source contract valued at about $500 million after testing by the National Institute of Standards and T...”
“3M acquired the biometric company and I started a new journey into life sciences and fighting cancer — I didn't realize how much tougher that market and problem space would be.”
“When COVID came we quickly switched our capability to COVID testing and became one of the top three in the market; that single event generated more than $1.5 billion cash from operations which we can now use to support cancer research.”
“One of the most important lessons I've learned is that true success comes from solving real‑world problems that positively impact people's lives — when you focus on creating value for others you not only find personal success but also a lasting legacy.”
“Do not fear AI — master it. As engineers we are uniquely positioned to learn and apply AI technologies: by mastering these cutting‑edge tools you won't be replaced by the technology, you'll drive it forward.”
“We started genetics services with large gene panels and marketed them directly; at IPO in 2016 we had relatively small revenue but built testing capacity and expanded panels over time into cancer and other disease areas.”
“I was very grateful that the stable and collaborative U.S.-China relations allow me to change from a field farmer to member of National Academy of Engineering and science. I am a beneficiary of these relationships.”
“Since the ice-breaking bilateral leadership in 1971, China and U.S. has worked together and brought a tangible benefit not only to myself but hundreds of millions of people in both countries and the world through globalization.”
“Our fourth quarter revenue over $295 million is almost three times the revenue we generated in the third quarter of this year and more than 35 times our fourth quarter revenue of last year. We did more than three million tests in a quarter and over 4.4 million tests in a year compared to about 60,000 tests in all of 20...”
“Looking at our business overall we expect revenue to almost double in 2021 compared to the record revenue achieved in 2020.”
“In the 1980's the semiconductor industry in the United States was facing strong competition from Japan. I was working long hours, taking on everything from circuit design to fiber processing, reliable testing, and same-day lines to keep the project on schedule.”
“I started the company before knowing where the bathroom was. I already signed a design job to build the next generation power managing chip for the company.”
Former Transportation Secretary and Labor Secretary Elaine L. Chao and Gala honoree Ming Hsieh make remarks on the occasion of the 2021 NCUSCR Gala. On November 9, 2021, the National Committee on U.S.-China Relations held its black-tie Gala Dinner at The Plaza New York. Members and friends gathered to celebrate the over $2.6 million raised to support the National Committee’s mission and work. This year’s esteemed honoree was Ming Hsieh, chairman, president, and chief executive officer of Fulgent Genetics, Inc., and a board member of the National Committee. More about Ming Hsieh and the Gal…
If you enjoyed this video, please support by subscribing to my channel. Thank you!
Ming Hsieh was the featured speaker and received an honorary Doctor of Engineering at the University of New Haven Spring ...
Sign in to search the full transcript archive, filter by topic, and access every quote from Ming Hsieh.
The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →